This week in Micro SaaS - This startup got shut down by Stripe subject to a fine of $425,000
As a part of my weekly Micro SaaS Ideas Newsletter, I send a small section every week with news updates around Micro SaaS.
(2 min read)
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Flurly was shut down by Stripe 'subject to a fine of $425,000' - See this post from Flurly for the details and how this impacts the sellers on the platform who get payouts through Paypal or Payoneer.
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Domenico shares how he co-built and co-sold 3 micro-startups in 6 months with no code, and having a full-time job. ROI was 700%, 4000% and 4600% for the micro-startups
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Kyle Nolan reached reached $6K MRR with ProjectionLab after 22 months. It took him 9 months to get to $1,000, 4 months to get to $2,000, 7 months to get to $5,000 and 2 months to get to $6,000
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Serverless SaaS, SaaS boilerplate for React developers, got acquired. Founder Jake Prins, shares the journey here
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GetMumu a macOS app bootstrapped by Wilbert Liu has been acquired for 5 figures
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DataFetcher by Andy Cloke hits $15K MRR. See Andy's earlier interview at FounderBeats when he was at $8600 MRR
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Aaron grows Choppity.com, a tool that edits TikToks/Reels using AI, to £117MRR in 37 days. He shares 5 things that made a huge difference
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Alexander Belogubov made $2,350 in first month with Mention Tools - a social listening tool
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Emailgurus a Gmail plugin reaches $500 MRR in Just 1 Month. See the interview of founder Aymane Sennoussi where he shares why he made the code open source and what led him to this success.
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I had to shut down one of my previous companies due to Stripe's policy, in this case, our largest customer try to renegotiate with us using bullying tactics. When I refused, they complained to Stripe. I produced enough evidence to show what happened, but Stripe refused to hear our case.
Prior to the filing by our customer, I was given all the assurances by Stripe that our business will be protected. But once filed, Stripe just didn't want to know. This showed me that Stripe does not care about their customers.
Sadly I still use Stripe due to its convenience. I think all the payment providers are the same. They will not stand up for their customers.
All the best.
Tahnks for the story @upenv
I can understand the pain, but unfortunately, it's not that the payment providers "will not stand up for their customers," but rather that they "cannot not stand up for their customers" because of various regulations and fines involved in financial transactions. A small mistake from their side could actually cancel their licenses, which would have a much more adverse impact, and that's why, in most cases, they simply shut down the customer, which is too bad and risky for IndieHackers.
I feel sorry for Flury, I bet his users are pissed and some got their money in the platform
Heard about that Stripe Shutdown... it was very unexpected move by Stripe.
Well, being Indiehackers it hurts to listen to these stories. The founder needs more love. Luckily his other project is working fine.
Bad things happen and thats how you learn...